The collection of change in “piggy banks” and other coin sorting devices is well known in the prior art and an established practice in many cultures. Coin collecting devices range from a simple jar or box, those with ornamental appearances, and even those with multiple compartments, sorting apparatus and counting means. In most cultures a child's first introduction to money and its value is in the form of collecting change or saving loose change either found or given to them so that a purchase can be made at a later time. This practice has evolved and results in several devices being developed to further enhance a child's learning of the value of money and its various uses, saving, spending, donating, etc.
For example, U.S. Pat. No. 5,716,211 issued to Vetter teaches an educational savings bank and toy is provided that includes a plurality of separate monetary input and storage locations that correspond to different budgetary categories, that automatically calculates an appropriate distribution of funds for each budgetary category based on a preselected percentage of money available to invest, and that automatically calculates the future value of funds in each budgetary category based on a user's age and a preselected time-frame and interest rate appropriate for that budgetary category. Written investment instructions are provided to advise the user on appropriate actual investments for the money totals saved in each category based on the budgetary goal of that category. One embodiment includes a base member with a plurality of representative figures selected to represent each discrete budgetary category and includes a microprocessor that calculates and displays the amounts of an investment total to be allocated to each budgetary, account, and their future values.
U.S. Pat. No. 6,454,570 issued to Woods teaches an educational banking apparatus comprising a compartment for storing money, and aperture to allow money to be deposited into apparatus and an outlet to allow money to be withdrawn from the apparatus, balance determination means for determining the amount of money stored in the apparatus and communication means to allow transmission of balance information over a network to a remote location. The apparatus may be in a form that appeals to children such as a piggy bank and allows a child to save and become familiar with the concept of a bank account without out having to physically part with his or her money.
U.S. Pat. No. 6,976,619 issued to Beacham, et al. discloses a compartmented bank for holding money to be used for saving, spending, donating, investing or other budgetary purposes. The bank is shaped like an animal and comprises a hollow body and four feet. Each compartment communicates with one of the feet so that money deposited into each compartment can be dispensed through an opening in a corresponding foot. The external surface of the body bears indicia indicating the budgetary purpose of the money placed in each compartment.
U.S. Patent Application 20030212636 published on Nov. 13, 2003 discloses an educational interactive money management method for use in an arrangement comprising at least one computer network connecting at least one display device to at least one information-provider computer. The method having the steps of: displaying a graphic user interface connected to an electronically accessible financial account having at least one game; establishing a system of authorization governing access and transfer of information to and from the graphic user interface and the financial account; and processing information and transactions to and from the graphic user interface as permitted by the system of authorization.
One shortcoming of the devices known in the prior art is that they provide little or no means for interactive learning to a child using such devices.
Another shortcoming is that the bank devices known in the prior art are static and not interactive to a learning program or connected to an actual bank account. The combination of an interactive learning interface and connection to an actual bank account enables a new user, such as a child to learn more about the banking system and the value of money while providing exposure to other more complex issues such as the concept of interest.
Yet another shortcoming of the saving devices known in the prior art is that they provide no connection to establish banks and offer no access to potential new customers, the children, and families.